European Union ships US $ 2.22 billion worth of T&C to USA

by Apparel Resources News-Desk

10-August-2018 | 2 mins read

Image Courtesy: dailydot.com

The first half of 2018, in terms of textile and clothing (T&C) exports to the USA, was positive for the 28-nations bloc European Union. During January to June 2018 period, the EU exported T&C products worth US $ 2,219.78 million in the US market, marking growth of 15.12 per cent on Y-o-Y basis.

Of all textile and clothing products, exports of readymade garments (RMG) were valued at US $ 1,112.86 million (up 16.26%), while other textile products helped EU clock US $ 1,106.93 million (up 14%) in H1 ’18.

According to an analysis of Apparel Resources on the released data by OTEXA, Italy remained the top exporter from the EU to the USA as the country fetched US $ 629.83 million in its RMG exports noting 19.18 per cent surge on the yearly note.

It’s worth mentioning here that Italy alone contributed more than 50 per cent in the total US import from EU. Italy clearly got due advantage of its luxury fashion products which drawn US buyers’ attention all through the period.

The other textile products such as yarns, fabrics and fibre earned US $ 302.54 million (up 16.77%) for Italy in the US market.

Portugal, on the other hand, touched US $ 133.84 million in its RMG exports to the USA and grew by 22.80 per cent on Y-o-Y basis. Exports of apparels from France valued at US $ 80.52 million to the USA noting a double-digit surge of 14.67 per cent on Y-o-Y basis.

Further, an underrated exporting destination Romania proved its worth yet again with US $ 77.47 million worth of apparel exports to the USA registering 14 per cent yearly growth.

However, the Trump administration recently announced it is likely to start negotiations with the European Union to eliminate tariffs between the two regions. If this FTA sees the light of day, imports from EU would attract no duties, therefore, making European apparels cheaper for US buyers.